Tradewind Digital Platform Uses Blockchain to Track Provenance of Gold
Joeri Cant's original article for cointelegraph.com reduced by 55%
Tradewind Markets has launched a new system on its platform to track the provenance of its physical gold and other precious metals. On Nov. 5, Coindesk reported that Tradewind Markets, a blockchain-based digital trading platform launched its latest solution Origins.
The digital tool provides supply chain provenance to buyers and sellers of precious metals. Tradewind tracks where its metal comes fromAccording to the Tradingwind website, Origins allows customers to buy and sell physical gold and other precious metals based on individual sourcing preferences, such as mine, artisanal, recycled sources, and the name and geography of the mine where the metal was sourced. Tradewind's so-called VaultChain digital platform creates a direct and immutable connection between investors and their physical gold positions stored with the Royal Canadian Mint, a crown corporation of the Government of Canada.
Investors are able to buy fractional amounts of gold or silver through the digital platform, with transactions and ownership of the gold recorded on the blockchain. Royal Canadian Mint uses blockchain as "Source of truth" The Royal Canadian Mint reportedly legally recognizes the blockchain as the source of truth for title to physical gold registered on the Tradewind Platform.
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